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Court Rules Ellison Must Donate $100M to Charity

Posted by CowboyNeal on from the forced-benevolence dept.

PokeyPenguin writes "As part of a settlement for insider trading allegations, a California judge has ordered that Larry Ellison donate $100 million to charity. CNet reports, 'The charity payments are an unusual way to settle such a case. Typically, settlement payments would go directly to the company, in this case Oracle. "But with Mr. Ellison owning a quarter of Oracle's stock, much of such a direct payment, in effect, would have gone to him."'"

3 of 191 comments (clear)

  1. $17 Billion Dollars? by el_womble · · Score: 5, Interesting

    So the settlement was for 0.6% of his personal worth? Or bearly equivalent to a speeding ticket to a guy on $30,000 and he gets 5 years to pay it and no criminal record?

    That's justice right there.

    --
    Scared of flying, pointy things snce 1979!
  2. Great Solution by Anonymous Coward · · Score: 5, Interesting

    Why not just exclude his stock from the distribution of the settlement. That way the people he screwed could still benefit from this settlement.

  3. No wrongdoing? by sh0dan · · Score: 5, Interesting
    From TFA:
    Ellison offered in September to settle the case with $100 million in charitable donations and without admitting wrongdoing.
    I'm really puzzled about this. Can someone explain to me, how you can pay yourself out of a wrongdoing?

    To - you have either done nothing wrong, and you are free, or you have done something wrong and have to pay for it. Maybe I'm just naiive, but how can it be "nothing wrong" and paying back money?